The Australian wool market has recorded an overall increase this week, the second consecutive selling series of positive movement.
With eight selling series conducting this season we can more accurately compare seasonal quantities.
Season to date there has been a total of 267,613 bales offered at auction. This is 74,897 bales less than the previous season, a reduction of 21.9 per cent.
The overall upward movement was predominantly driven by the higher prices on offer for merino fleece types. This was reflected in the movements in the individual Micron Price Guides (MPGs) for merino fleece, which across the country added between 1 and 34 cents for the week. The merino skirting market tracked similar path to the fleece, with small increases generally recorded across all types and descriptions.
The benchmark AWEX Eastern Market Indicator (EMI) gained 8 cents for the week, closing at 1,099 cents.
The EMI has now risen for three consecutive selling days, adding 13 cents across these sales.
Currency fluctuations have again played a large role in the market movements. Further weakening of the Australian dollar, meant the market was unchanged in US dollar (USD) terms. The EMI dropped by one US cent on the first day of selling, making this the fifth consecutive selling day where the market fell in USD terms.
On the second day, the EMI recorded a one cent increase. The EMI closed the week where it started, at 731 US cents. With fewer bales offered and with little change in the prices on offer, the total dollar amount of wool sold this season is also well down.
Season to date there has been a total of 315 million dollars’ worth of wool sold at auction. This is 98 million dollars lower than the corresponding sale of the previous season.Next week’s offering is of a similar size.
There are currently 32,121 bales on offer nationally.
Table showing wool prices for Season 2024/25, Week 11
Graph showing Eastern Market Indicator (EMI)
For full details of auction sales, download the reports below.
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